$BTC finally retraced, sliding directly from 99k to 91k, which scared quite a few friends who chased the highs. But to be honest, the retracement of Bitcoin is not the most critical part; the key point is that the altcoins and the second-largest coin actually didn't drop along with it this time!
If it were in the past, when Bitcoin dropped, they would definitely have a waterfall-like decline. But look, starting from a few days ago, the second-largest coin not only didn't drop but instead rose, which indicates what? It shows that the money earned from Bitcoin has started to flow to the second-largest coin and altcoins, and the season for altcoins might be approaching.
So where will Bitcoin retrace this time? When the monetary policy minutes were released at three in the morning, the result was hawkish, and Bitcoin immediately dropped below 91k. Plus, with the US stock market closing on Thursday, this might make the flow of money in the market a bit tight.
Personally, I think the 90,000 mark should hold up, and further down, there's a stronger support point at 87.5k. Of course, all this depends on how the market makers operate; the market can change suddenly. But everyone, don't panic; a retracement is just to fly higher next time! The changes in the crypto world are as fast as flipping a book; we need to keep up with the rhythm and not miss this once-in-four-years opportunity.
Now, looking at today's BTC market, from the candlestick chart, the 1-hour line is bouncing up, the 4-hour line seems to have stabilized at the bottom, but the 12-hour and daily lines are both dropping. Today's resistance is at 95,500 USD, and support is at 90,000 USD.
Now that BTC has retraced to 92,000, the market is exploding! In this situation, it's best to layout potential altcoins! I have carefully selected one cryptocurrency that is expected to 2-3 times in the short term and 5-10 times in the long term. Leave a comment + like for a free share!